JLL Capital Markets handles the $23 million construction loan and $15 million joint venture equity for a speculative industrial development in Casa Grande, AZ

 

 Kelly Royle

 PHOENIX, AZ, June 8, 2023 –  JLL Capital Markets announced today that it arranged $15 million in joint venture equity and $23 million in financing for the development of KV Casa Grande, a state-of-the-art, industrial development totaling 314,453 square feet in Casa Grande, Arizona.

Rendering of KV Casa Grande,
 a state-of-the-art, industrial project
 totaling 314,453 SFin Casa Grande, AZ

JLL worked on behalf of the borrower, Kentwood Ventures, to secure the loan through CrossFirst Bank and equity through Blue Vista Capital Management.

Jason Carlos

 KV Casa Grande will sit on an 18.68-acre parcel at the corner of Thornton Rd. and Lawrence St.

Key building features will include 32-foot clear heights, a 175-foot concrete truck court, 28 dock-high doors, 14 grade-level doors and 339 parking spaces.

The project broke ground in April 2023 and is projected to be completed over the next year. 

The development is centrally situated in Casa Grande’s expanding industrial submarket, an extension of Phoenix’s Southeast Valley industrial market, which includes Tempe, Mesa, Chandler, Gilbert and Sky Harbor International Airport.

Tony Lydon

Casa Grande has an industrial vacancy rate of 1.3% and limited speculative construction. The pro-growth community is positioned at the crossroads of the I-8 (San Diego), I-10 (Phoenix/Tucson/Los Angeles) and SR85 (Mexico), providing efficient transportation options throughout the Southwest Region.

Additionally, the project is located within Pinal County, one of the fastest growing counties in the country with 500,000 residents and growth projections to more than double by 2045.

John Lydon

The JLL Capital Markets Debt and Equity Advisory team was led by Senior Director Jason Carlos and Associate Jarrod Howard. Leasing will be spearheaded by Tony Lydon, John Lydon, Hagen Hyatt and Kelly Royle.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

Hagen Hyatt

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

About Kentwood Ventures

 

Kentwood Ventures is a private real estate development and investment company focused on superior risk/return opportunities. 

 Jim Zemezonak

Together the principals, Kevin Dretzka and Jim Zemezonak, bring a combined 70 years of experience and have completed $8 billion in transactions both locally and nationally.

 

About CrossFirst Bankshares, Inc.

CrossFirst Bankshares, Inc. (Nasdaq: CFB) is a Kansas corporation and a registered bank holding company for its wholly owned subsidiary CrossFirst Bank, a full-service financial institution that offers products and services to businesses, professionals, individuals, and families. CrossFirst is headquartered in Leawood, KS.  

 

CONTACT:

 

Alli Semans

 Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 jll.com

https://bluevistallc.com/